Toronto’s housing market just had its busiest July in four years, a new report suggests — but what does that mean for those individuals who were once left on the sidelines?
New figures from the Toronto Regional Real Estate Board show 6,100 homes changed hands last month, up nearly 11 per cent compared to July 2024.
It’s the most activity recorded in the month of July since 2021. But that surge in sales came alongside a drop in prices, with the average selling price falling 5.5 per cent year-over-year to $1,051,719. The board’s benchmark price, designed to reflect the typical home, has also dropped 5.4 per cent year-over-year.
The numbers come as other market reports show a complicated picture — with ultra-luxury sales rising sharply even as new home construction activity collapses.
New ways to enter the market
TRREB President Elechia Barry-Sproule said the uptick in sales is a signal that more buyers are finding ways to re-enter the market after years of being priced out.
“It’s clear that a growing number of households are finding affordable options for home ownership,” Barry-Sproule said in a statement. But she warned that more change is needed to fully revive demand, “particularly where borrowing costs are concerned.”
While activity has surged in the resale market, construction for newer homes continues to struggle.
A recent analysis by Altus Group found that new home sales in the Greater Toronto Area have dropped by more than 50 per cent so far in 2025. The group warned that if the downtrend continues, it could cost the region as many as 41,000 jobs.
On the flipside however, Sotheby’s International Realty says sales of ultra-luxury homes — properties worth $10 million or more — rose 200 per cent in the first half of the year compared to the same period in 2024.
Are you finally back in the market? Let us know
After months — or years of waiting, some buyers and sellers may finally be finding their opening. Whether it’s due to falling prices, more listings, or better financial circumstances, there are at least some signs pointing to more movement in the GTA housing market.
Have you just bought your first home after a long search? Were you finally able to sell your property after sitting on the market for months? Are you considering buying a property or listing one for sale after spending months or even years waiting for the market to turn?
CTV News Toronto want to hear from you.
Tell us what has changed and what your experience has been like. Share your story by emailing us at torontonews@bellmedia.ca with your name, general location, and phone number in case we want to follow up.
Your comments may be used in a future story.
With files from The Canadian Press...
